BAY STREET-Gold, copper juniors poised to shine in 2010
TORONTO, March 6 (Reuters) – Shares of gold and copper exploration companies are the most likely to shine in the Canadian junior mining sector this year, as large miners raise their exploration budgets and scout for promising projects.
Small-cap stocks on the TSX Venture exchange enjoyed a strong run last year with the S&P/TSX Venture Composite Index .SPCDNX gaining more than 90 percent through the course of the year.
While 2010 is unlikely to be a banner year for the sector as a whole, analysts say companies with advanced copper projects and those with promising gold assets will probably outpace the pack.
….read more HERE
From Mark Leibovit’s VRGold Letter
“Platinum and palladium outperformed last week following upbeat reports on auto sales. The two metals are used to make catalytic converters for automobiles, so any signs of growing demand for cars will drive prices higher. Ford Motor said its U.S. sales jumped 43 percent in February, while General Motors reported an 11.5 percent jump. Platinum gained 36 (2.34%) to finish the week at 1577 while palladium jumped 45 (10.44%) to 476.
Well, not only did I pinpoint an entry point for GLD at 107.56 was opportune two weeks ago, but I also told you that 112.00 would be a good trading target. Wednesday’s high in GLD was 112.18. If you were trading, you would have sold at 112.00 or thereabouts and now be sitting in cash. If you’re in it for the long haul, these comments are irrelevant. Upside potential remains clearly to new highs (119.76 in GLD and 1222.70 in Spot Gold). The 50 day moving average is at 108.57 and the 200 day is at 101.47 for GLD – two levels that represent market support.”
“I am still of the view that the best is ahead. “
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